12.6 billion XRP changed hands in last 24 hours
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The surge in volume and price can be attributed to several factors. The broader cryptocurrency market is showing an"undeniable bull run," with many digital assets experiencing upward momentum. Bitcoin surged to fresh all-time highs of $89,995 in early Tuesday's trading session, lifting the value of the entire crypto market.XRP has benefited from this positive market sentiment, attracting substantial trading activity.
In the process of this move, XRP exited the $0.487-$0.566 range it had held within in recent weeks and also surged above the daily moving averages 50 and 200, at $0.546 and $0.538, respectively, which had constricted its price since the start of October.The rally is facing selling at $0.70, as seen from the long wick in today's candlestick. Support is envisaged near $0.60 in the very short term, ahead of $0.579.
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